Mortgage Street Smarts

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Mortgage and Lending - CMG Mortgage, San Diego, CA - NMLS 259027
From a young age, we learn the difference between BOOK SMARTS (knowledge learned in the school classrooms) and STREET SMARTS (what we learn in the "Real World"...often the hard way). There are no shortage of websites providing the BOOK SMARTS of the Mortgage Industry, but there are very few resources a Consumer has to learn about the STREET SMARTS of the Mortgage Industry. Please feel free to SUBSCRIBE (for free) to this ongoing source of truthful knowledge (without the worry of a "sales spin" buried somewhere in the message). After all, we tend to make better decisions when armed with the facts...the purpose of this blog is to provide FACTS by teaching you the MORTGAGE STREET SMARTS necessary to run your business (if you are a Real Estate Professional) or to make the best decisions for your family (if you are a Consumer). Enjoy!
RECENT BLOG POSTS
The JOLTS report showed 5.43M job openings, an increase from last month. No further economic data will be released today.Compared to Thursday's closing, the market has opened with a 0.125 IMPROVEMENT to the Points/Credits associated with any given interest rate option.This daily mortgage interest...
01/12/2016
What interest rate changes can we expect in 2016? The market opened with an improvement due to concerns about the pace of economic grown in China and rising tensions in the Middle East.  Weaker than expected manufacturing data in China caused a selloff in Chinese equities which was followed by de...
01/04/2016
On the heals of a very disappointing run in mortgage rates last week, we begin this week on the right path. Read below on what to expect as the week progresses.Compared to Friday's closing, the market has opened with a 0.125 IMPROVEMENT to the Points/Credits associated with any given interest rat...
12/07/2015
 TRID Talking Points A few years ago, the Real Estate Community was blind-sighted by the implementation of the Mortgage Disclosure Information Act (MDIA).  Amidst the chaos of the Housing Crisis, the MDIA was yet another unwelcomed change that wreaked havoc on countless escrows.  The main causes ...
11/10/2015
This painful week continues to trend in the wrong direction for mortgage rates! Fueled by a stronger than expected Employment Report, yet another large decline in Mortgage Backed Securities has occurred. Against a forecast of 190K new jobs, the economy is reported to have added 271K jobs in Octob...
11/06/2015
OUCH! In the U.S., the first reading for the 3rd Quarter GDP was 1.5% which was slightly below the consensus of 1.6% (and down from 3.9% from Q2). The details of the report may reflect greater strength, however a decline in inventories held back 1.4% of growth during Q3 (meaning that GDP would ha...
10/29/2015
On an annualized basis, September starts came in at 1.2 million units, while expectations were for 1.15 million units. August starts were revised a little higher as well. Most of the increase in September starts was in multifamily units. Building permits fell a bit short of expectations. Single f...
10/20/2015
The August Trade Deficit increased to $48.3 Billion this morning, which came close to expectations. No more economic data will be released today.Compared to Monday's closing, the market has opened with a 0.125 WORSENING to the Points/Credits associated with any given interest rate option.This dai...
10/06/2015
Stocks are starting the day sharply lower, reacting to news showing a negative outlook on Chinese Banks. Compared to Monday's closing, the market has opened with a 0.125 IMPROVEMENT to the Points/Credits associated with any given interest rate option.This daily mortgage interest rate report is de...
09/22/2015
Negotiations between Greek officials and creditors ended with no agreement reached. Greece will be unable to make its debt payments due tomorrow. Investors shifted to safer assets, helping MBS after Friday's decline. The Greek Government called a referendum on whether to accept austerity measures...
06/29/2015
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Jason E. Gordon

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
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Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon

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